CYPRUS EIB
October 1st, 2002
BY KEITH NUTHALL
THE EUROPEAN Investment Bank is lending Euro 100 million to the Electricity Authority of Cyprus to help it improve its electricity transmission and distribution networks. The loan will help finance 19 transmission schemes and a larger number of distribution schemes throughout the Greek part of the island. Scheduled for completion by end-2005, the project should substantially increase the capacity of Cyprus' high-voltage transmission grid, to meet present and future demand whilst maintaining security of supply and reducing network losses.
THE EUROPEAN Investment Bank is lending Euro 100 million to the Electricity Authority of Cyprus to help it improve its electricity transmission and distribution networks. The loan will help finance 19 transmission schemes and a larger number of distribution schemes throughout the Greek part of the island. Scheduled for completion by end-2005, the project should substantially increase the capacity of Cyprus' high-voltage transmission grid, to meet present and future demand whilst maintaining security of supply and reducing network losses.
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